TD Cowen analyst Joseph Thome has maintained their neutral stance on PTCT stock, giving a Hold rating on July 29.
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Joseph Thome has given his Hold rating due to a combination of factors influencing PTC Therapeutics. The recent approval and launch of Sephience in the U.S. and EU markets is a significant development, and while the company is optimistic about its market potential, there remains uncertainty regarding its adoption and performance. Thome acknowledges the company’s confidence, as evidenced by their purchase of royalty obligations, but remains cautious, noting that the launch is still in its early stages.
Additionally, the upcoming regulatory decision for Vatiquinone presents a potential risk. Although there is optimism for its approval, the regulatory environment and the need for flexibility due to trial results introduce uncertainty. Thome’s Hold rating reflects a balanced view, recognizing the potential upside from successful product launches and regulatory approvals, while also considering the inherent risks and the need for careful execution by PTC Therapeutics.
According to TipRanks, Thome is an analyst with an average return of -4.5% and a 38.43% success rate. Thome covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, PTC Therapeutics, and Axsome Therapeutics.
In another report released on July 29, Barclays also maintained a Hold rating on the stock with a $46.00 price target.